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TheStreet Open House

Why Battleground-State Housing Might Help Romney

Colorado (9 electoral votes)

After hitting a Rocky Mountain low in 2011, Colorado's housing market appears to have begun rebounding in earnest this summer.

"We had just incredible sales in June, July and into end of August, and the average price is starting to pick up a little," Colorado Association of Realtors President Scott Matthias says. "If you're in the lower price range, it's really a seller's market because of the lack of inventory -- and because of that, prices have increased."

The latest figures show that 6,556 Colorado houses sold in August -- an 11% jump from the same period last year. Median prices likewise rose to hit $203,923, up 4% from August 2011 and 12.9% from a June 2011 bottom of $180,694.

True, prices are still down 16.4% from their October 2005 peak of $243,991. But Matthias thinks the improving market conditions could help Obama.

He notes that Colorado went from being a longtime Republican stronghold to voting for Obama in 2008, "and the economy here is fairly good, so that may mean that's not going to change."

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